I don't know how passionate you feel about your startup idea. I would take the plunge, as if I hunker down, my startup will never take off for sure. As others are mentioning it would be valuable lesson at worst. Your risk minimization instincts are making you think about recession and stuff. In my view, economic environment would only add very marginal risk to the risk that you would already take by going for your startup. I wouldn't be rash, but I would take the plunge.